The “Gang Of 6″ Proposal

There seems to be some good news coming from Washington…..first of all, it is NOT that the people are happy with their Reps…..

When asked how they felt about the federal government, 80 percent of poll respondents said that they felt dissatisfied or even angry about the work the government is doing. The last time such a peak of ill will was felt was during 1992′s economic slump, under President George Bush’s leadership.

This is something that could impact the 2012 election…watch and learn…..

The happy is coming from the negotiations of the “Gang of 6″….they 3 Repubs and 3 Dems, that have come up with  a plan that the Prez seems to like and the media seems to like and the Reps are torn…..but there are other views of this plan and I have read one that I will agree with after hearing all the proposals within the Gang of 6 deal…..

This was written by jcase for a Google discussion board……..

The plan is said to be “balanced,” meaning there will be big cuts in
spending plus some revenue increases from closed loopholes and
abandoned deductions like mortgage interest. That’s alongside, of
course, an agreement to raise the debt ceiling and not revisit it until
after the 2012 elections.But the deal is also a big step in the direction of Austerity Economics
- the lunacy of fighting recessions with more layoffs.

Cuts in basic entitlements – Social Security, Medicare, Medicaid – will
not drive more customers into the empty parking lots in stores across
America, nor fill up the order books of manufacturers. Those empty
parking lots and order books are the number one and two reasons why
economic recovery is sputtering.

The framework that says debt is more important than jobs is
fundamentally backwards. The president’s deficit reduction plans – and
those of the “Gang of Six” – rest on a series of predictions and
assumptions about employment, none of which has proved accurate. And
based on the past quarter’s private sector hiring of only 18,000
workers (far less than the swell of the workforce), these predictions
and assumptions will be flat out wrong for the future. The lesson: if
employment does not increase no deficit reduction plan will work.

I have said from the beginning of all this …..that cuts will NOT do it alone; it must be coupled with revenue and jobs creation…..without those 3 there is NO debt reduction….unless that is what is intended….and in this political climate I would not put it past some of the amateurs in Congress to work for a default……basically we have turned away from fighting for prosperity to embracing austerity ONLY!  The concept of prosperity is NO longer relevant….that only austerity will make the economy strong again…….a pile of steaming bovine fecal matter (to use a fav analogy)……..